Gas Markets
There are growing noises suggesting that the UK’s only large seasonal gas storage facility, Rough, which closed in 2017 may re-open for the winter. Centrica’s storage licence was renewed late last month, and on 3 August, Ofgem granted Centrica an exemption from the Third [...]
Gas prices have been continuing on their volatile journey as they respond to the global imbalances resulting from the pandemic, as well as the developments around the war in Ukraine. As the chart shows, UK gas prices have been extremely variable in recent months. [...]
Gas markets have been on a bumpy ride recently and it has been difficult to keep track of the news flow. This blog provides an update on some of the key events of the past few weeks. Prices have retreated from their highs but [...]
As Europe focuses on a gas market crisis that began with a covid-related supply and demand imbalance that has now been significantly magnified by the consequences of the illegal war in Ukraine, a smaller crisis in the French electricity market has attracted much less [...]
Last week I wrote about the pressure UK businesses and public sector organisations are facing in relation to their energy supply agreements with Gazprom Energy and Gazprom Marketing & Trading (“GMT”). Some organisations such as Centrica have announced they are terminating their agreements with [...]
As the illegal war in the Ukraine continues, there is a growing discussion about the need to move away from a reliance on Russian commodities in the energy market, which presents new challenges to energy policy. The timing could hardly be worse, coming as [...]
I didn’t really go out on a limb in my last post when I predicted that energy markets would continue to make headlines this year – the last few days have seen a lot of people wondering what on earth is happening with gas [...]
This week has seen the failure of three more energy suppliers: Pure Planet which supplies gas and electricity to around 235,000 domestic customers, Colorado Energy with around 15,000 domestic customers, and Daligas with around 9,000 domestic and non-domestic customers. This new round of closures [...]
Current high gas prices combined with a period of low wind output in September have re-awakened concern about security of supply, including among the general public – today my doctor asked me if he was going to be able to charge his car when [...]
Gas markets were highly volatile today as prices went on a roller-coaster ride - front month NBP futures on ICE reached an unprecedented £4 /therm! Similar trends were seen in European markets with the key TTF benchmark exceeding €160 /MWh. This meant gas traded [...]